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GM Europe weeks from running out of cash

By Phil McNamara Motor Industry 03 March 2009 19:03 GM Europe will run out of cash ‘early in the second quarter’ of 2009, unless the divison secures $3.3bn in funding from European governments. Speaking today (Tuesday 3 March), GM chief operating officer Fritz Henderson revealed that insolvency loomed, due to the plunge in European car sales and GM’s liquidity crisis in North America. He ruled out a swift cash injection from private investors, saying that no talks had taken place and that lengthy negotiations and due diligence would take too long.

Pagani, Mercedes-AMG say V12s are separate

Italian sports-car maker Pagani and Mercedes-AMG, the high-performance division of Mercedes-Benz, on Thursday said that the engine for the future Pagani C9 supercar is not the same engine used in the Mercedes-Benz SL65 AMG Black Series roadster. The unusual announcement--automakers typically don't comment on future-product programs--refutes reports about the Pagani C9's engine. In January, Road and Track magazine reported that the V12 for the C9 was derived from the V12 in the SL65 Black Series.

American icon, reborn: the 1967 Shelby GT500CR Continuation Car (2010): first official pictures

We all have fantasies about meeting long dead heroes, dreams like seeing the Beatles play onstage, going dirt bike riding with Steve McQueen, or talking politics with JFK. Until they improve cloning technology, we won't be heading out to the desert with Steve, but there is one legend that is reborn and ready to ride. An Oklahoma based custom coachbuilder called Classic Recreations announced at the auto-industry love-fest called SEMA last November that they had struck a deal with Shelby American to put one of the most famous Ford muscle cars ever built back into production - the 1967 Shelby GT500.